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COMPANY REGISTRATION NUMBER: 07780380
MeVie Limited
Filleted Unaudited Financial Statements
30 June 2023
MeVie Limited
Statement of Financial Position
30 June 2023
2023
2022
Note
£
£
£
Fixed assets
Intangible assets
4
219,862
219,862
Current assets
Debtors
5
10
708
Cash at bank and in hand
1,625
3,380
-------
-------
1,635
4,088
Creditors: amounts falling due within one year
6
135,200
150,440
---------
---------
Net current liabilities
133,565
146,352
---------
---------
Total assets less current liabilities
86,297
73,510
--------
--------
Net assets
86,297
73,510
--------
--------
MeVie Limited
Statement of Financial Position (continued)
30 June 2023
2023
2022
Note
£
£
£
Capital and reserves
Called up share capital
1,026
1,026
Share premium account
164,931
164,931
Profit and loss account
( 79,660)
( 92,447)
---------
---------
Shareholders funds
86,297
73,510
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 19 March 2024 , and are signed on behalf of the board by:
J D Flint
Director
Company registration number: 07780380
MeVie Limited
Notes to the Financial Statements
Year ended 30 June 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 21 York Place, Leeds, LS1 2EX, West Yorkshire.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The Directors confirm that, after reviewing expenditure commitments, expected cash flows and borrowing facilities, they have a reasonable expectation that the Company has adequate resources to continue in operational existence for the next financial year and the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.
Revenue recognition
The company recognises revenue on an accruals basis (net of VAT if applicable), when the amount of revenue can be reliably measured and it is probable that the future economic benefits will flow to the company. Revenue comprises licence fee arising from developed recruitment software leased out and which is recognised in the profit and loss account on a straight line basis over the term of the licence.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Website
-
Over 2 years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4. Intangible assets
Trademark
Website
Total
£
£
£
Cost
At 1 July 2022 and 30 June 2023
9,710
277,223
286,933
-------
---------
---------
Amortisation
At 1 July 2022 and 30 June 2023
67,071
67,071
-------
---------
---------
Carrying amount
At 30 June 2023
9,710
210,152
219,862
-------
---------
---------
At 30 June 2022
9,710
210,152
219,862
-------
---------
---------
5. Debtors
2023
2022
£
£
Other debtors
10
708
----
----
6. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
30,003
29,102
Social security and other taxes
2,504
Other creditors
102,693
121,338
---------
---------
135,200
150,440
---------
---------
7. Related party transactions
The company was under the control of Mr J D Flint and Mr J D Hyde throughout the current and previous year. No other transactions with related parties were undertaken such as are required to be disclosed under the Financial Reporting Standard 102.